The head of corporate affairs at bailed-out Lloyds Banking Group stands to receive more than £1.3m a year if he hits certain performance targets, it emerged on Thursday, in a rare insight into pay deals outside company boardrooms.

The potential package for Matt Young, who was lured from Spanish bank Santander to take up the role, would not usually be disclosed as he does not have a seat in the boardroom but was leaked to the London Evening Standard. Pay at state-backed banks is subject to particular scrutiny and the bank has already revealed that 20 employees received £1m or more last year.

Young was part of the team assembled by chief executive António Horta-Osório, who was recruited from Santander to run the 39%-owned taxpayer owned bank. His potential package appeared to be more than three times the £388,000 he was said to receive at Santander.At Lloyds he is said to receive a £350,000 salary, an annual bonus of up to £525,000 and a long-term incentive plan worth £350,000. In addition he is reported to receive a £87,500 pension contribution and £12,000 car allowance.

A glimpse of part of Young's pay had previously emerged through stock exchange disclosures detailing awards of shares being made to him. The bank had to make these disclosures as he sits on the executive committee, just below board level.

To buy him out of pay deals at Santander, Young had received 145,723 shares in Lloyds worth £100,000 while two other colleagues recruited with him, Antonio Lorenzo, who runs a number of divisions at the bank, and Juan Colombás, chief risk officer, received shares worth around £745,588 and £650,000 respectively.

Other stock exchange disclosures have also shown sales of shares by Young and shares he has received. On Wednesday, for instance, he received 88,706 shares worth £55,000 after selling a similar amount to satisfy his tax bill.

While all companies must disclose boardroom pay, banks must also publish the eight highest paid employees outside the boardroom without identifying the individuals. However, Young does not appear to among those eight individuals whose pay was disclosed in March and shows packages varying from £1.2m and £1.9m. This appears to suggest that Young may not have received the maximum available to him.

The bank said: "Matt is part of the new management team brought in to turn around the bank. A significant majority of his pay is in shares, deferred and will only pay out if the transformation of Lloyds is successful over many years. The new management team will only do well if the taxpayer does well."

The pay of senior corporate communications executives is not usually revealed so comparisons are not straightforward. However stock exchange disclosures by the insurer Prudential show that John Murray, its corporate affairs director, received share awards, which vest in three years, worth around £865,000.